SYDNEY, Dec 17 (Reuters) - Australian property developer Lend Lease said on Friday it was in talks to acquire the local unit of German construction firm Bilfinger Berger .
Lend Lease said no agreement had been reached and there was no certainty a transaction would occur.
The Australian newspaper reported on Friday Lend Lease was set to buy the Bilfinger unit, Valemus, for A$1 billion ($986 million).
($1 = 1.015 Australian Dollars) (Reporting by Ed Davies; Editing by Balazs Koranyi)